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Parent Company Only Financial Information | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Information | Parent Company Only Financial Information
CONDENSED BALANCE SHEETS | December 31,
| 2023 |  | 2022
Assets |  |  |
Cash | $ | 100,427 |  |  | $ | 142,832 |
Equity securities | 1,795 |  |  | 2,750 |
Investment in bank subsidiary | 548,493 |  |  | 466,268 |
Investment in non-bank subsidiaries | 23,262 |  |  | 21,566 |
Deferred assets and current receivables | 1,894 |  |  | 1,782 |
Other assets | 925 |  |  | 931 |
Total assets | $ | 676,796 |  |  | $ | 636,129 |
Liabilities |  |  |
Subordinated debentures | $ | 104,887 |  |  | $ | 104,584 |
Other liabilities | 662 |  |  | 783 |
Total liabilities | 105,549 |  |  | 105,367 |
Stockholders' equity | 571,247 |  |  | 530,762 |
Total liabilities and stockholders' equity | $ | 676,796 |  |  | $ | 636,129 |
CONDENSED STATEMENTS OF INCOME | Year Ended December 31,
Income: | 2023 |  | 2022 |  | 2021
Dividends from: |  |  |  |  |
Bank subsidiary | $ | 22,295 |  |  | $ | 21,225 |  |  | $ | 22,165 |
Non-bank subsidiaries | 1,325 |  |  | 1,431 |  |  | 1,700 |
Other | 240 |  |  | 198 |  |  | 210 |
Total income | 23,860 |  |  | 22,854 |  |  | 24,075 |
Expenses | (7,084) |  |  | (6,112) |  |  | (6,657) |
Income before income taxes and equity in undistributed net income of subsidiaries: | 16,776 |  |  | 16,742 |  |  | 17,418 |
Change in net unrealized holdings gains (losses) on equity securities not held for trading | (722) |  |  | (132) |  |  | 121 |
Income tax benefit | 1,606 |  |  | 1,422 |  |  | 1,381 |
Equity in undistributed net income of bank subsidiary | 38,702 |  |  | 43,846 |  |  | 37,178 |
Equity in undistributed (distributions in excess) of net income of non-bank subsidiaries | 1,658 |  |  | 1,310 |  |  | 1,609 |
Net income | 58,020 |  |  | 63,188 |  |  | 57,707 |
Dividends on preferred stock | (4,302) |  |  | (4,302) |  |  | (4,302) |
Net income available to common stockholders | $ | 53,718 |  |  | $ | 58,886 |  |  | $ | 53,405 |
Comprehensive income attributable to the parent | $ | 58,020 |  |  | $ | 63,613 |  |  | $ | 58,008 |
CONDENSED STATEMENTS OF CASH FLOWS | Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net income |  |  |  |  |
Adjustments to reconcile net income to net cash provided by | $ | 58,020 |  |  | $ | 63,188 |  |  | $ | 57,707 |
Operating activities: |  |  |  |  |
Equity in undistributed net income of bank subsidiary | (38,702) |  |  | (43,846) |  |  | (37,178) |
(Equity in undistributed) distributions in excess of net income of non–bank subsidiaries | (1,658) |  |  | (1,310) |  |  | (1,609) |
Net realized and unrealized (gains) losses on equity securities | 700 |  |  | 132 |  |  | (121) |
Decrease in other assets | (230) |  |  | 609 |  |  | 60 |
Increase in other liabilities | 2,064 |  |  | 1,571 |  |  | 978 |
Net cash provided by operating activities | 20,194 |  |  | 20,344 |  |  | 19,837 |
Cash flows from investing activities: |  |  |  |  |
Purchase of equity securities | (41) |  |  | (32) |  |  | — |
Sales and maturities of equity securities with readily determinable fair value | 296 |  |  | — |  |  | — |
Investment in bank subsidiaries | (37,000) |  |  | — |  |  | — |
Net cash used in investing activities | (36,745) |  |  | (32) |  |  | — |
Cash flows from financing activities: |  |  |  |  |
Dividends paid on common stock | (14,694) |  |  | (12,557) |  |  | (11,550) |
Dividends paid on preferred stock | (4,302) |  |  | (4,302) |  |  | (4,302) |
Proceeds from issuance of long term debt | — |  |  | — |  |  | 83,484 |
Repayment of long term debt | — |  |  | — |  |  | (50,000) |
Purchase of treasury stock | (6,858) |  |  | (1,707) |  |  | (1,163) |
Net proceeds from issuance of common stock | — |  |  | 94,051 |  |  | — |
Net cash provided by financing activities | (25,854) |  |  | 75,485 |  |  | 16,469 |
Net (decrease) increase in cash | (42,405) |  |  | 95,797 |  |  | 36,306 |
Cash beginning of year | 142,832 |  |  | 47,035 |  |  | 10,729 |
Cash end of year | $ | 100,427 |  |  | $ | 142,832 |  |  | $ | 47,035 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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